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Weekly Market View

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Another gloomy week in Europe

Mon, Aug 4 2008, 09:40 GMT
by Guillermo Alcalá

FXstreet.com

In the United States, indicattors have been mixed, while GDP seems to have grown much faster than in the first qarter, and the consumer confidence seems to pick up mildly, although employment continues declining, unemployment rate has hit tha four year high, and non farm payrolls have declined for seventh consecutive month.

Nex week we have a handful of indicators ahead, theattention will be on the monetary policy decisions by the ECB, BoE and US Federal Reserve.

On Sunday (Aug 3rd) we have the following events to watch:

• The week’s economic agenda will open in New Zeland with the 2nd Q labor Cost Index (Previous: 0.7%)

On Monday (Aug 4th) we have the following events to watch:

• The first indicator of the day will be Australian House Prices Index  for the 2Q (Previous: 1.1% QoQ; 13.8% YoY)
• In Switzerland, figures for July’s SVME PMI will be out (Previous: 54.9)
• In the Euro Area, the indicator of the day will be June’s PPI (Previous: 1.2% MoM; 7.1% YoY)
• In the United States it will be a busy day, with the Core PCE prices Index (Previous: 0.1% MoM; 2.1% YoY) at the same time we will know the figuras for the Personal Income (Previous: 1.9%) and Personal Spending (Previous: 0.8%)
• The US econiomic calendar will end with June’s Factory Orders (Previous: 0.6%)

On Tuesday (Aug 5th) we have the following events to watch:

• The day will start in Australia with the RBA’s interest rate decision (Actual: 7.25%)
• At an indeterminate time, in the UK July’s Halifax House Prices will be released (Previous: -2% MoM; -6.1% YoY)
• In the Euro Zone the revised Services PMI will be out (Previous: 49.1%)
• In the UK we will Know the figures for June’s manufacturing production (Previous:  -0.5% MoM; -0.8% YoY) and industrial production (Previous: -0.5 MoM; -1.6% YoY).
• Euro Zone’s June Retail Sales will follow (Previous: 1.2% MoM; 0.2% YoY)
• The event of the day will be the Federal Reserve´s monetary policy decision (Actual: 2%)
• Uk’s July Nationwide Consumer Confidence will seal off the day’s agenda (Previous: 63).

On Wednesday (Aug 6th) we have the following events to watch:

• The daily economic agenda will start with Japan’s ptreliminary leading index for June (Previous: 92.9)
• In the UK the focus will be set on July’s BRC shop prices index (Previous: 2.5%)
• The most important event for the Euro Zone will be German June factory orders (Previous: -0.9% MoM; -2% YoY)
• In Canada, the Ivey PMI for July (Previous: 69.6)
• Finally, New Zeland’s second quarter’s Unempoyment rate (Previous: 3.6%).

On Thursday (Aug 7th) we have the following events to watch:

• Australia will open Thursday’s economic agenda, with July’s unemployment rate (Previous: 4.2%)
• In Germany we will know the figures of June’s Trade Balance (Previous: 14.4B)
• Also in Germany june’s Industrial Production will be published (Previous: -2.4% MoM; 0.8% YoY)
• Later on The Bank of England will release its monetary policy decision (Actual: 5%)
• The ECB will publish its monetary policy decision somewhat later (Actual: 4.25%)
• Afterwards Triche will give a conference explaining the monetary policy decision.
• In the US we will know june’s pending home sales (Previous: -4.7%)
• The last event of the day will be US June’s connsumer credit (Previous: 7.78B)
  
                       
  

On Friday (Aug 8th) we have the following events to watch:

• Swiss unemployment rate for July will open the day’s agenda (Previous: 2.3% s.a.)
• In the american timeframe we will know Canadian  July’s unemployment rate (Previous: 6.2%)

Published on  Mon, Aug 4 2008, 09:40 GMT